Spanish Stocks Slip 0.34% to End August Below 20,000 Points
Translated from Spanish and summarized by DistantNews. Read the original for the full story.
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- Spain’s IBEX 35 fell 0.34% to 19,974.1 points on Aug. 31, ending August with a 0.97% monthly gain and a 15.41% rise for the year.
- The market reversed early gains as Wall Street traded lower, while renewed concern over possible U.S.-Iran attacks and higher oil prices weighed on sentiment.
Spain’s benchmark stock index ended August below 20,000 points after giving up early gains during Monday’s session. The IBEX 35 fell 67.8 points, or 0.34%, to close at 19,974.1.
The index initially rose and reached an intraday high of 20,135.6 points. After 4 p.m. local time, it changed direction as losses on Wall Street pulled the market lower.
Investors were also watching the possibility of renewed attacks between the United States and Iran after a month-long pause. The prospect of further escalation pushed oil prices higher and added pressure to the session.
Despite the daily decline, the IBEX 35 gained 0.97% in August and remained up 15.41% since the start of the year. Repsol led the main stocks, rising 2.44%, while Telefónica gained 0.72%.
Iberdrola fell 0.99%, Inditex declined 0.55%, Banco Santander lost 0.38%, and BBVA slipped 0.04%.
About this summary
Originally published by ABC Color in Spanish. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.
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